I Approved NNPC Contracts after Due Diligence, Says Osinbajo

Vice-President Yemi Osinbajo Thursday broke his silence on the allegation of illegal award of joint financing contracts by the Minister of State for Petroleum, Dr. Ibe Kachikwu, against the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, admitting that he approved the contracts in accordance with laid down procedure.

The vice-president’s admittance however was in contradiction to the allegation by Kachikwu that all the contracts were awarded in violation of due process. On the other hand, the admittance seemed to affirm the submission of Baru on Monday that due approval was sought for the contract awards by the corporation.

Kachikwu, had in a leaked letter dated August 30, 2017 and addressed to President Muhammadu Buhari, alleged that Baru awarded contracts to the tune of $25 billion and simultaneously made senior executive appointments without due consultations with the Board of the NNPC as required by law.

But the vice-president’s admittance Thursday laid to rest a substantial part of the allegation by the minister that the contracts were awarded without a recourse to the Board of NNPC which he chairs in alleged violation of the NNPC Act.

It also laid to rest the report circulating that Buhari had approved contracts to the tune of N640 billion while on his sick bed in London despite handing over to Osinbajo as acting president at the time.

The allegation had generated huge controversies in the polity, moreso that Kachikwu alleged that Baru awarded the contracts without following due process, describing it as a deliberate attempt to undermine his office.

However, Osinbajo who was the acting president when the contracts were awarded insisted that he approved the contracts “after due diligence” had been complied with and in accordance with laid down rules and regulations.

These guys are pure clowns in a monkey den! Whether loans or contract, Osibanjo has no constitutional right to circumvent due process . Can the NNPC obtain such huge loans without the endorsement of the board ? Did you Mr Acting President consult the Minister and Board before approving anything? Both loans and contract are obligations on the corporation and the board need to approve and if anyone else should know better, it is you Mr Osibanjo. I can excuse the illiterate Buhari but yours is indeed most reprehensible and absolutely condemnable . You legally and morally committed perjury as far as am concerned. This administration is worst than its senior brother called the PDP!

What a shame ?

Okwuchukwu Ezeanyika

Osinbajo, did you also approve the lopsided appointments that favored the North against the South, 6 to 1? Ejo h make you answer quick!

Udom

This points to the importance of a free press. Nigerians at local, state and national levels must understand the need for transparency in all their deliberations. Put the information out there so the court of public opinion gets a chance to weigh in. Coming out after the fact like Osibanjo has done only raises more questions about his motive and undercuts the credibility of the officials implementing policies. This is exactly why Donald Trump has been at loggerheads with the American press since Jan 20th of this year. The spectre of a dictatorship is surfacing in American press reports, simply because he (the U.S. president) does not subscribe to check and balances, a cornerstone of a democractic government. Nigerian government can not preach democracy without living it in their daily dealings with the citizens of Nigeria. Had this government put out the necessary information or set up relevant guidelines to enable facts to be checked we would not be going through this exercise. Reporters smell a rat when information of and to public interest is not laid out for perusal.

AriseNigeria

Due Process? What process was followed when the most critical and the principal supervising board director was not consulted. What kick-back was paid to whom? When you hear them shout Ole!!! Ole !!!! they usually have some sleese and dubious stuffs in their hands. Redeem Church is nothing but a fraudulent organization, they have no single reputation, and Oleshi hypocrisy has been unveiled.

Rick Eson

You so right, the minister should have been consulted. They undermining the minister not consulting him.

4T2

What a Redeemed Christian Church of God Pastor!
What a disgrace to the Faith.
Shame!

lord vuga

I guess it may be time to appoint kanu or asari and let kachukwu go for embarassing his office and govt.
Everyone is bashing the vp and gmb , without even considering that kachukwu could be up to some mishief with the purported letter. Even when nnpc and vp have cleared the air folks in blind biased antagonism have refused to acknowledge the facts . How are we sure kachukwu isnt another ploy by ipob or pdp to embarass the govt.Who leaked the purported letter since no media house has stood up to claim to have seen a copy.

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Ken

I don’t even understand the way some journalists write. How can a N640b out of N9tr be substantial? Prof Osinbajo has said he did not approve contracts but loans. So what due process was followed if the board is not aware? These people are confused. They are in deep shit. They cannot run from this. Baru has paid his way. For Kachikwu to come out it is real. MonumentAl corruption . It is so sad

super hero

I wonder too! The President only this week wrote to the NASS for approval to BORROW $5.5bn. Who did the then Acting President consult for his own approval?

Ngo_Zib1

Approved as FEC, acting President or petroleun minister without input from the board or chairman of the board. If you were not corporate/criminal lawyer, what do you teach your students as lecturer prof?

vic

WHAT DUE DILIGENCE???? EXPAND YOUR EXPLANATION.

THIEVES AND LOOTERS TRYING THEIR BEST TO COVER UP THE MATTER.

LET BUHARI SPEAK TO NIGERIANS ON THIS MATTER AND LET US WATCH HIS BODY LANGUAGE. BUHARI IS THE MAIN CULPRIT HERE.

vic

OSINBAJO IS BOTH A LIAR AND A COWARD BEING MISUSED BY DAURA DUMB BUHARI.

OSINBAJO IS JUST A PUPPET IN THE CROOKED HANDS OF BUHARI.

vic

JOKER OSINBAJO ON TOM AND JERRY ROAD SHOW?????? THIS REVEREND IS CLEARLY LYING AND IS ACTING AS A SAVIOUR FOR THE LOOTER AND CORRUPT DAURA DUMB, BUHARI.

BUHARI IS A BIG THIEF, HE MUST BE MADE TO ACCOUNT FOR $25.5 BILLION CONTRACTS. THEY ARE ALL THIEVES AND BUNCH OF LIARS. THIS MATTER IS RAISING MORE QUESTIONS AND ANSWERS. WHY IS BUHARI HIMSELF SILENT ON THIS ISSUE OF MASSIVE FRAUD????? BUHARI IS A WHOLESOME THIEF AND A LOOTER.

Ken

They refused to say which due process was followed

KennBest

Osinbajo, may the God you worship judge you if you’re lying to Nigerians. Kachikwu wouldn’t have written and made the allegations if you had actually signed off on the contracts. May God judge the lie from the truth.

vic

OSINBAJO, YOU HAVE NO AUTHORITY TO APPROVE OIL AND GAS CONTRACTS SINGLE HANDEDLY. SUCH A PRACTICE IS OPEN TO FRAUD AND ABUSE AS IN THIS CASE. IT IS AN AFTER THOUGHT, IT SEEMS TO ME, BUHARI IS JUST USING OSINBAJO FOR HIS SELFISH REASONS. BUHARI IS BEHIND THIS 25.5 BILLION DOLLARS FRAUD. BUHARI HAS BEEN CAUGHT WITH HIS PANTS DOWN.

efada acha

Man of God.hmmm. daddy adeboye hear your son of the vineyard

MUkintu

Where is the credibility of this government?Osinbajo is just lying.

ade

go to punchng.com and see the real fact.VP said he approved loans for NNPC not contracts.

lord vuga

An approval is an approval.if i aprove for you to visit the toilet. Are u not free to do what ever you like there?

ade

try make sense

lord vuga

Beware of insulting a man of God.who told you he is lying? How do u know kachukwu isnt lying?

BankyMons

Man of what? Where in the new testament did you people come up with this nonsense? In this new dispensation of grace, you can only be a child or a servant of God!

Ade

They should tell that to babies. This government can’t be trusted any more. Loads of questions for our learned Vice President….

Patrick

Pastoral cover-up

Ade Whenu

Well, I think it is unfair to call to question, people’s credibility because we do not like what they say. If Osinbanjo, insinuates due diligence was followed before he signed NNPC contracts, why should it be a cover up?

Gary

So why not have Baru step aside while a probe is undertaken…as was done for the NIA Chief over the Osborne Towers slush fund?
He can then be recalled if cleared of all the allegations and Mr. Kachikwu told to resign.
P.S. Can the President or VP grant approval for any public official to violate extant laws, due process and the Constitution of the Republic?
These are questions that remain unanswered despite Osinbajo’s self-sacrifice to fall on his sword for Buhari.

Ade Whenu

If that is the stipulation of the probe if instigated, so be it. However, we should also presume innocent until proven otherwise. For the minister for petroleum to allege due diligence is not followed, should not automatically be construed as him being right and Baru’s guilty.

We should wait for the outcome of the investigation. I am also not sure how we concluded that Osinbajo falls on the sword for Buhari. Again let us not keep jumping to conclusion. As it is not fair to the relevant parties.

super hero

The VP is trying valiantly to split hairs. He has owned up to signing off on something WITHOUT official board approval. He has already publicly contradicted his spokesperson and you are still here trying to justify it. Ok oh!

Ken

We’re the contracts taken to the board? No. So what due diligence is he talking about? He should spare Nigeria of his ignorance

Ade Whenu

Are you aware of what constitutes due diligence in the award of contracts? As I honestly do not know and cannot comment on what I do not know.

As you seems to have all the facts to hand, please I will appreciate clarification of what the process is. Also be fair enough to accept the minister for petroleum, could have misunderstood the remit of his involvement in the way the GMD awards NNPC contracts.

As I said I have absolutely no clue or knowledge of how this process works.

Don Franco

Dear Ade Whenu,

It is rather disappointing that you don’t see the game that the Certificateless One, Abba Kyari and Maikanti Baru are playing with the NNPC; the fact that Kachikwu finally had to figure out the fact that he’s effectively grossly intentionally marginalized out of every strategic decision in the NNPC, from the day he was demoted, and his technical adviser appointed over him as GMD, tells me that he probably was absent at Harvard Law School on the day that the Limitations and Dynamics of Corporate and Trust was taught as a course.

In the final analysis, the Daura Dullard, by implanting Abba Kyari on the NNPC board, with Maikanti Baru in charge of Operations; has consolidated their Northern Caliphate Agenda of underdeveloping the SouthSouth and SouthEast, but using their oil and gas commonwealth for the accelerated but futile search for oil in Northern Nigeria; as all three of them surely know that with Restructuring and Secession starring them in the face; the days of their domination of this Lugardian Zoo are counted, and the moment of reckoning will soon be at hand; and woe betide them, if don’t find oil in Lake Chad and Sokoto.

This is all this whole baseless talk about due diligence and powerless board oversight is about. You can defend it if you like, but the facts are clear, only to the discerning, l dare say; with all sense of modesty. Have you heard any northerner complain about Baru; why do you think it is only a certain tribal grouping is defending him, in the accursed Villa and on this forum?
Make you shine your eye, my guy!

super hero

Really??

Patrick

The due diligence included circumventing the board of the NNPC? Can you hear yourself lawyer and pastor? So you are now telling Nigerians that you had every clout during your “father’s” abscence but cannot allocate common portfolio to ministers nor confirm judges appointment without touching base with London

Agba

Osibajo stop this cover up,as a co ordinator by ABBA KYARI,you can not sign that NNPC contract,Buhari did on his sick bed,GARBA SHEHU said on channels tv that some people took document to London for Buhari to sign,but Buhari sent them back,that was not true,Buhari sign it ,WHY THOSE CRIMINAL TOOK DOCUMENT TO LONDON?When you are at home.

Jumpingbrook

Common Ministers you couldn’t assign portfolio when Buhari was away, now you are telling us you approved NNPC contracts, how?

It should be clear whose pocket osibanjo is in. Was it not a year or so ago Tinubu came out criticizing Kachikwu? The plan was always to sideline him so tinubu and buhari would have unfettered access to NNPC and oil licenses. The unity of Nigeria is indeed non negotiable! Pastor!

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